Direct to Consumer Loans are like the Private Education Loans discussed on another tab on this site except lenders make these loans directly to students without contacting the Student Financial Services Office to verify how much the student is able to borrow without affecting their other financial aid.
Students are strongly encouraged to talk with the Student Financial Services Office before taking out one of these loans because they may find they are eligible for other financial aid, including additional federal loans or certified private educational loans with better repayment terms and conditions. If this is the case, it may then be possible to reduce the amount of, or altogether eliminate the need for a Direct to Consumer Loan.
Students who choose to take out a Direct to Consumer Loan must report the amount of of the loan to the Student Financial Services Office where it must be considered as a resource in combination with any other aid received. Students who have not coordinated with the Student Financial Services Office about their Direct to Consumer Loan may find that it results in a reduction in or required repayment of other aid.